My fiance’s mother is a solicitor. I am hopeful that I will be offered mate’s pricing for conveyancing, but if not, what level of costs should I be paying for conveyancing in Ogmore Vale?
You should contrast pricing. Make use of our search tool on this page. You will notice that fees will vary but service levels do are distinct between conveyancers as is true with most professions.
I am hoping to move into my new home in Ogmore Vale next Monday. My property lawyer now wants me to supply her with proof of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the bank. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These obligations are not unique to conveyancing in Ogmore Vale.
I happen to be the only beneficiary of my late grandmother’s estate and I have everything in my name alone, including the my former home in Ogmore Vale. The Ogmore Vale property was put into my name in December. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership will be considered the same way as though I had purchased the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How practical a view lenders take of it, depend on the lender as this provision is chiefly there to pick up on the purchase and immediately sell or the wholesaling and assigning of properties.
Two weeks ago we had a mortgage agreed in principle with Barclays. Ogmore Vale conveyancing solicitors are appointed. How long does it take for Barclays to send the offer to the conveyancing practitioner?
There is no definitive answer here. Have Barclays completed the survey? Have you informed Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am purchasing a property in Ogmore Vale. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that you are obtaining a mortgage with Barclays your lawyer must comply with the conveyancing instructions set out in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook stipulates minimum conditions for solar panel roof-space leases, and conveyancing practitioners are required to report to Barclays where a lease does not meet these specifications. The specifications relate to the installation of panels on properties nationwide and is not restricted to Ogmore Vale.
My wife and I own a semi-detached Edwardian property in Ogmore Vale. Conveyancing solicitor acted for me and Virgin Money. I did a free Land Registry search last week and there are a couple of entries: the first freehold, the second leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ogmore Vale and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the position with the conveyancing solicitor who conducted the purchase.
Am I right to be suspicious by third parties that I am dealing with are suggesting a national conveyancing firm as opposed to a local Ogmore Vale conveyancing practice?
As with lots of professional services, often input from family and friends can be worth their weight in gold. Yet there are many parties with a vested interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward conveyancers to use. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there may be a financial incentive behind the recommendation. You are free to choose your preferred lawyer. You need to be aware that many banks specify a panel list of solicitors you must use for the mortgage related work in your conveyancing.
There are only Fifty years left on my lease in Ogmore Vale. I now wish to extend my lease but my freeholder is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. You will be obliged to demonstrate that you have done all that could be expected to find the landlord. In some cases an enquiry agent may be useful to conduct investigations and prepare an expert document which can be accepted by the court as proof that the freeholder can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court overseeing Ogmore Vale.
I acquired a 1st floor flat in Ogmore Vale, conveyancing formalities finalised in 2005. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Ogmore Vale with over 90 years remaining are worth £171,000. The average or mid-range amount of ground rent is £50 per annum. The lease finishes on 21st October 2104
With only 79 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.